Experts are predicting a potential 530% rally in XRP’s price, targeting $14, if it successfully reclaims the 200-day Simple Moving Average (SMA). Currently, XRP has been trading between $2.05 and $2.40 and is forming a bullish continuation pattern known as a bull pennant. This technical setup has drawn comparisons to XRP's price movement in 2017, where a similar pattern led to an over 1,300% surge to an all-time high. Analyst Mikybull Crypto remarked, "I have seen this movie before," echoing sentiments of a possible repeat of past price action.
For XRP to maintain upward momentum, it must overcome resistance around $2.27, identified as the 50-day SMA, with the next crucial level set at $2.65 (the 200-day SMA). If these resistance levels turn into support, XRP could see significant movement back toward the $3.00 mark. Notably, should a spot XRP exchange-traded fund (ETF) gain approval in the U.S., optimistic predictions suggest even higher targets, with some analysts eyeing prices upwards of $25. As XRP’s Relative Strength Index (RSI) has shown improvements, traders remain hopeful about a bullish trend developing in the weeks ahead.
For XRP to maintain upward momentum, it must overcome resistance around $2.27, identified as the 50-day SMA, with the next crucial level set at $2.65 (the 200-day SMA). If these resistance levels turn into support, XRP could see significant movement back toward the $3.00 mark. Notably, should a spot XRP exchange-traded fund (ETF) gain approval in the U.S., optimistic predictions suggest even higher targets, with some analysts eyeing prices upwards of $25. As XRP’s Relative Strength Index (RSI) has shown improvements, traders remain hopeful about a bullish trend developing in the weeks ahead.
